FX - EURO
THE EURO closed lower on Friday as it extends this year's decline. The lowrange close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this year's decline, monthly support crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.
FX – YEN
THE YEN closed slightly lower on Friday. The highrange close
sets the stage for a steady to higher opening when Monday's night session
begins trading. Stochastics and the RSI are neutral to bullish signalling that
sideways to higher prices are possible nearterm. If it renews this year's
rally, weekly resistance crossing is the next upside target. If it renews the
decline off December's high, the 25% retracement level of the 20132014rally
crossing is the next downside target.
FX - SWISS FRANC
THE SWISS FRANC closed higher on Friday extending this
month's rally. The midrange close sets the stage for a steady opening when
Monday's night session begins trading. Stochastics and the RSI remain bullish
signalling that sideways to higher prices are possible nearterm. If it extends
the rally off July's low, monthly resistance crossing is the next upside
target. Closes below the 20day moving average crossing are needed to confirm
that a high has been posted.
FX – STERLING
STERLING closed slightly higher on Friday. The midrange
close sets the stage for a steady to higher opening when Monday's night session
begins trading. Stochastics and the RSI are neutral to bearish signalling that
sideways to lower prices are possible nearterm. If it extends the decline off
July's high, monthly support crossing is the next downside target. Closes above
the reaction high crossing are needed to confirm that a low has been posted.
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